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Board hears budget update; trustees debate tax-rate options for schools project
Summary
Administration reported a $500,000 healthcare savings that reduced the three-year operating deficit; trustees discussed maintaining a 2.5% tax-cap increase or modestly raising it to reduce borrowing for planned school construction and asked administrators for a standalone vote on the tax decision.
Administration updated the board on the three-year budget, saying a recent health-care negotiation reduced projected operating costs by $500,000 and reducing the earlier deficit estimate to roughly $692,000. The presentation assumes use of $1.5 million from the committed fund balance…
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